Material Handling Equipment Market Overview
The material handling equipment industry is expected to gain a market value of USD 37,980.70 million by 2030 at a CAGR of 7.10% over the forecast period of 2022-2030.
Scrutinizing the market structure, this report offers insights about factors affecting the market growth. Analyzing the market size and foretelling the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R&D), and strategic alliances.
The key driver driving the global material handling equipment market growth is the increasing automation across manufacturing industries. Other important market drivers are constantly increasing pressure for the optimization of resources, raw materials consumption, constant innovation in technology, up gradation of the manufacturing plants and the expansion of the manufacturing base in developing nations.
The global material handling equipment market has been segmented into application, operation, system type, and lastly, region. The application-based segmentation segments this market into automotive, e-commerce, food & beverages, metal & heavy machinery, and others. Among all segments, the e-commerce sector holds the major market share, and it is expected to emerge as the fastest growing application during the forecast period.
Based on the operation, the market has been segmented into the assembly, transportation, packaging, distribution, and others. By system type, the market has been segmented into bulk load material handling system and unit load material handling system.Unit load material handling system holds the larger market share, and it is used in automotive, aviation, and semiconductor & electronics, and others.
The regional segmentation of the global industrial equipment market segments the global market into regional markets known as the Asia Pacific, North America, Europe, and rest of the world (RoW). During the forecast period, the Asia Pacific region is expected to grow significantly as a regional market. In this region, the market is expected to grow due to the growing industrial sector in the region, rise in construction & infrastructure activities and the safety concerns at workplaces. Material handling equipment is also helpful in the distribution and production of materials majorly in the e-commerce industry, thereby resulting in market growth in this region. In this region, the major country-specific markets are China, India, Indonesia, and Japan, followed by the remaining countries of the Asia Pacific region.
North America is a significant regional market due to the presence of established automotive and e-commerce industries. In this region, the key country-specific markets are USA and Canada. Many key market players are based in North America, especially in the USA. Europe is the third significant regional market. In this region, the established automotive industry has played a pivotal role in the growth of the material handling equipment market. In Europe, the primary country-specific markets are France, Germany, Spain, and the UK.
Key Players
The key players in the global material handling equipment market include Columbus McKinnon Corporation (USA), Crown Equipment Corporation (USA), Eisenmann AG (Germany), Hytrol Conveyor Co., Inc. (the USA), Jungheinrich AG (Germany), KION Group AG (Germany), Liebherr Group (Switzerland), Toyota Industries Corporation (Japan), Viastore Systems GmbH (Germany), and Xuzhou Heavy Machinery Co. Ltd. (China).
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Latest Industry News
- Bedeschi is going to provide equipment for handling raw material and clinker handling to Cementeria Costantinopoli at the latter's cement plant in Barile, Potenza, Italy. 11 DEC 2018
- Ballard is set to supply Infintium with fuel cell stacks that are used for powering material handling equipment for Daimler. 8 DEC 2018
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